Auction opportunity for cash buyers or investors seeking refurbishment potential.
- Vacant first-floor two-bedroom flat above shops
- Approximately 501 sq ft; small overall size
- Sold at public auction; guide price £110,000+
- 61 years remaining on lease; likely mortgage refusal
- EPC rating D; mains gas boiler and radiators
- Cavity walls assumed uninsulated; may need efficiency works
- Built 1967–1975; cosmetic and refurbishment potential
- No flood risk; good mobile and fast broadband
A vacant two-bedroom first-floor flat above shops with open-plan living, offered at auction with a guide price of £110,000. The property measures about 501 sq ft and sits in a mixed inner-city area close to local shops, buses and Malden Manor rail links.
This is a clear proposition for cash buyers or investors able to purchase at auction. The flat has decent fundamentals — mains gas boiler and radiators, double glazing, and an EPC rating of D — but it will require updating and likely cosmetic refurbishment to maximise rental income or resale value.
A significant practical drawback is the remaining 61 years on the lease. Many mortgage lenders refuse to lend on leases of this length, so financing options will be limited and most buyers will need cash or specialist lending. The building dates from 1967–1975 and cavity walls are assumed uninsulated, so buyers should budget for possible insulation or energy-efficiency improvements.
Legal packs and full auction information are available to download; the property is being sold by public auction. Short open-house viewing slots are scheduled in early December for prospective buyers to inspect the flat in person.
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